With the government's ongoing and persistent efforts to cool the red-hot property market, Chinese property developers are struggling to sell properties while becoming more encumbered with debt.
The debt of the country's property developers rose 41.27 percent year on year to 1.05 trillion yuan (about $161.53 million) by the end of March, the Wind Information, a Shanghai-based financial data provider, said in a recent report..............................................Full Article: Source